Snow Lake Receives Positive Preliminary Results from the Engo Valley Phase 2 Drill Program

Core Viewpoint - Snow Lake Resources Ltd. has announced positive preliminary results from its Phase 2 drill program at the Engo Valley Uranium Project, indicating good intercepts of uranium mineralization and progress towards a maiden resource estimate by the end of 2025 [1][3]. Company Updates - The Phase 2 drill program has completed a total of 31 reverse circulation (RC) drill holes, totaling 2,719 meters, with 8 holes returning mineralized intersections greater than 100 ppm eU3O8 [6][8]. - The diamond drilling segment of the Phase 2 program is set to begin during the week of June 15, 2025, with plans for 19 diamond drill holes in the MUO area and 8 in the D1 area [8]. - A maiden mineral resource estimate for Engo Valley is targeted for completion before the end of 2025, contingent on timely assay results [9]. Industry Context - The global supply deficit of uranium is expanding, necessitating the development of new uranium mines to meet increasing demand [3]. - Namibia is highlighted as the world's third-largest uranium producer, making the exploration and development of projects like Engo Valley crucial for identifying new economic sources of uranium [3].